Introduction To Mortgage

Whether it’s your first place, your dream home or the perfect vacation spot, buying a home isn’t something most people do every day and that’s why I think it’s important for my clients that I’m more than just a mortgage loan officer. I’m a guide to help you on your journey and our destination is a stress-free closing which gets you into your new home. I’ve been on all sides of the process – as a Realtor, a developer, a builder and a homeowner and I’ve worked with all types of clients. From growing families looking for the lowest rate on the place they’re going to raise their children, or executives looking for something short-term and flexible…even empty-nesters downsizing into something that fits their lifestyle. This diversity gives me a unique perspective.

It’s why I take a holistic approach based on a true understanding of your situation, your goals and your experience with the process to ensure that you’re matched with the loan that’s right for you. This people first approach is why I’m so excited to become part of the Atlantic Coast Mortgage family. We value relationships and a hands-on commitment to customer service and a level of quality that stands out from the crowd. It all means a truly exceptional experience for our clients. We are a team dedicated to making investments in people and technology and adding our entrepreneurial spirit to the home lending process. This makes Atlantic Coast a great fit for Charleston, too because this is a place of tremendous growth and opportunity. Charleston is in the midst of a transition from a cultural and historic destination to a vibrant business hub – home to some of the nation’s most innovative companies. But don’t worry, we’ll never forget our southern charm and the personality that makes the Low country what it is.

Refinancing Basics

Refinancing is a transaction where we’re refinancing a a home that you already own. We can do this on an owner occupied property, on a second home or on an investment property. The parameters that we follow based on what we can do for you do change based on those three different occupancy types; owner occupied, second home and investment property. But in a refinance transaction there’s typically two types of refinances or verbiage that we’ll use in lending; one would be a cash out and one is rate and term. In a cash out refinance, we’re pulling cash out of the property and putting money in your pocket to pay off debt, to make home improvements, to make other investments, to shore up savings and put more money away. In a rate and term refinance, we’re just adjusting the rate and term of the loan.

So, for example you did an FHA home loan and there’s mortgage insurance and your property has now appreciated in value and you’ve paid that loan balance down and you’re at a point where we can refinance and not have any mortgage insurance. We will potentially do a refinance and take you out of the FHA, pay that FHA home loan off, get you a new conventional without mortgage insurance, hopefully saving you money. There’s a lot of reasons why we might do a refinance for a customer. One being saving money, one being pulling cash out for improvement, pulling cash out for debt consolidation, getting rid of mortgage insurance. We’re adjusting the term of the loan. So maybe you’re going from a 30 to a 25 to a 20 or to a 15, or from a 15 to a 30.